Jagr was named one of three finalists for the 2013-14 Bill Masterton Memorial Trophy on Wednesday. The Devils named the 42-year-old Jagr their most valuable player this season after he led them in assists (43), points (67), plus-minus (plus-16), game-winning goals (six) and shots (231). He was second on the team with 24 goals.

The 6-foot-3, 230-pound forward has NHL totals of 705 goals and 1,050 assists and 1,755 points in 1,473 regular-season games spanning 20 seasons with the Pittsburgh Penguins, Washington Capitals, New York Rangers, Philadelphia Flyers, Dallas Stars, Boston Bruins and Devils.

Jagr, who will enter his second season with the Devils in 2014-15, ranks 20th all-time in games played, seventh in goals, eighth in assists, is tied for sixth in points, and is the NHL's all-time leader with 124 game-winning goals, including 18 overtime goals.

A member of the Penguins' 1991 and 1992 Stanley Cup championship teams, he has 78 goals, 121 assists and 199 points in 202 games in the Stanley Cup Playoffs.

According to CBSSports.com, the contract is reportedly another one-year deal and may go from the $4.55 million he made this season to something between $5 million and $6 million.